Singapore News

P&I Club Steamship Mutual Granted License to Operate as Insurer in Singapore

Steamship Mutual, the London-based protection and indemnity (P&I) club, announced it has been granted a license to operate as an insurer from its Singapore branch office. “This is a reflection of the club’s commitment to vessel owners and operators from …

Singapore Looks to Create Thousands of Finance, Insurance Jobs

Singapore wants to bolster its status as a wealth management and foreign-exchange center as part of plans to create more financial-sector jobs and mitigate the effect of rapid changes in technology. In a plan unveiled Monday, the Monetary Authority of …

Lloyd’s Re/Insurance Broker RFIB Launches Singapore Operation

RFIB Group Ltd., the Lloyd’s insurance and reinsurance broker, announced the launch of RFIB (Singapore) Pte Ltd. The new operation will serve as a hub for the continued development of RFIB’s presence across Asia, said London-based RFIB. “Asia represents a …

Ironshore’s Singapore Branch Introduces Legal Event Expense Cover

Ironshore Insurance Ltd., Singapore Branch, has introduced a specialty professional lines product that offers protection for after-the-event legal expenses to mitigate commercial litigation loss exposure. Ironshore’s after-the-event legal expenses product provides insurance against adverse costs awards in commercial litigation. The …

Lloyd’s Insurers Launch Asia Political Risk Consortium

Three Lloyd’s insurers have joined forces to form a Political Risk Consortium in Asia, offering increased capacity for a wide range of political and contract frustration risks. Beazley, Chaucer and Talbot will work collectively to provide large scale capacity of …

Singapore Ranks Highest in Asia in Attracting Talent; No. 2 in Global Index

Singapore ranks the highest in Asia in attracting and developing talent, reflecting not only its world-class education system but how it’s adapting skills in the digital era. The city-state took the No. 2 spot behind Switzerland on the Global Talent …

Brit Appoints ArgoGlobal’s Lim as CEO of Brit Singapore

Brit Ltd. announced that it has appointed David Lim as CEO, Brit Global Specialty Singapore, with effect from May 15, 2017. Following the appointment, Lim, together with Charles Barrett, chief underwriting officer, Asia Pacific, will be responsible for identifying growth …

AIG Seeks Best Drivers in Singapore with New Smartphone App

AIG Asia Pacific Insurance Pte. Ltd. (AIG Singapore) has launched a nationwide search to find Singapore’s best drivers with “AIG On the Go,” a telematics-based smartphone application. “AIG On the Go” scores drivers’ performance every time they get behind the …

Singapore Tightens Rules for Sharing Economy that Could Disrupt Asia Ambitions

Singapore, a keen early adopter of the sharing economy, has fired a warning shot across the bow of Airbnb and Uber with tighter rules that could shake up their business models and growth ambitions in Asia. The rules, some say, …

Talbot Launches Enhanced Terror Facilities for Singapore, LatAm, Dubai

Talbot Underwriting Ltd., a wholly owned subsidiary of Validus Holdings Ltd., announced the launch of three enhanced Lloyd’s-led terror facilities in the Singapore, Latin American and Dubai markets. In response to the increasing demand for this distinctive coverage, these facilities …